AN ORDINANCE OF THE CITY OF LEANDER, TEXAS ORDINANCE NO. ORDINANCE AUTHORIZING REDEMPTION OF CERTAIN CITY OF LEANDER, TEXAS SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2014 (OAK CREEK PUBLIC IMPROVEMENT DISTRICT) AND APPROVING OTHER MATTERS RELATED THERETO WHEREAS, the City of Leander, Texas (the City ) has previously issued its Special Assessment Revenue Bonds, Series 2014 (Oak Creek Public Improvement District) (the Series 2014 Bonds ); and WHEREAS, there currently remains outstanding $4,975,000 of the Series 2014 Bonds; and WHEREAS, the City intends to utilize approximately $53,867.50 to partially redeem on November 15, 2018 the following maturities of its outstanding Series 2014 Bonds (the Redeemed Bonds ): SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2014 Maturity Redeemed Principal Amount Amount Being Redeemed Amount Remaining September 1, 2044* $350,000 $50,000 $300,000 *Term Bond maturing September 1, 2044 WHEREAS, the City pursuant to Sections 4.4 and 4.5 of the Indenture of Trust for the Series 2014 Bonds by and between the City and BOKF, NA dba Bank of Texas, as Trustee, dated as of October 16, 2014 (the Indenture ), desires to redeem the Redeemed Bonds with the funds to be provided therefor by the City from available funds in its Redemption Fund which has been established under the Indenture; and WHEREAS, Chapter 1207, Texas Government Code, as amended ( Chapter 1207 ), authorizes the City to deposit available funds or resources, directly with a place of payment (paying agent) for the Redeemed Bonds, and such deposit, if made before such payment dates, shall constitute the making of firm banking and financial arrangements for the discharge and final payment of the Redeemed Bonds; and WHEREAS, BOKF, NA dba Bank of Texas is the paying agent for the Redeemed Bonds (the Paying Agent ), and the redemption may be accomplished by depositing the amount necessary with the Paying Agent, as permitted by said Chapter 1207; 01121984;2
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LEANDER, TEXAS: Section 1. Definitions. In addition to other words and terms defined in this Ordinance and unless a different meaning or intent clearly appears in the context, the following words and terms shall have the following meanings, respectively: City City of Leander, Texas. City Council The duly constituted City Council for the City, or any predecessor thereof or successor thereto. Ordinance This Ordinance as revised and completed as herein permitted. Paying Agent BOKF, NA dba Bank of Texas (or any successor thereto). Section 2. Execution of Ordinance. The Mayor and City Secretary are authorized to execute this Ordinance on behalf of the City and to do any and all things proper and necessary to carry out the intent thereof. Section 3. Approval of Redemption. The City Council hereby approves the redemption of the Redeemed Bonds through funds provided from the Redemption Fund and hereby directs the Mayor, City Manager, Finance Director and other appropriate officials of the City to take all steps necessary to accomplish the redemption of the Redeemed Bonds as set forth in this Ordinance. Section 4. Use of Funds. The City will use available funds from its Redemption Fund to redeem the Redeemed Bonds. Section 5. Matters Related to Redemption. Authorization of Officers. The City shall satisfy in a timely manner all of its obligations under this Ordinance. The Mayor and all other appropriate officers and agents of the City are hereby authorized and directed to take all other actions that are reasonably necessary to provide for the redemption of the Redeemed Bonds, including, without limitation, executing and delivering on behalf of the City all certificates, consents, receipts, requests, notices (see Form of Notices of Extraordinary Partial Redemption attached as Exhibit A), and other documents as may be reasonably necessary to satisfy the City's obligations under this Ordinance and to direct the transfer and application of funds of the City consistent with the provisions of this Ordinance. Section 6. Miscellaneous Provisions. (a) Titles Not Restrictive. The titles assigned to the various sections of this Ordinance are for convenience only and shall not be considered restrictive of the subject matter of any section or of any part of this Ordinance. 01121984;2-2-
(b) Inconsistent Provisions. All Ordinances and resolutions, or parts thereof, which are in conflict or inconsistent with any provision of this Ordinance are hereby repealed and declared to be inapplicable, and the provisions of this Ordinance shall be and remain controlling as to the matters prescribed herein. (c) Severability. If any word, phrase, clause, paragraph, sentence, part, portion, or provision of this Ordinance the application thereof to any person or circumstance shall be held to be invalid, the remainder of this Ordinance shall nevertheless be valid and the City Council hereby declares that this Ordinance would have been enacted without such invalid word, phrase, clause, paragraph, sentence, part, portion, or provisions. (d) Governing Law. This Ordinance shall be construed and enforced in accordance with the laws of the State of Texas. (e) Open Meeting. The City Council officially finds and determines that the meeting at which this Ordinance is adopted was open to the public; and that public notice of the time, place, and purpose of such meeting was given, all as required by Chapter 551, Texas Government Code, as amended. (f) Incorporation of Recitals. The recitals to this Ordinance are hereby incorporated by reference herein as if copied in full. [The remainder of this page intentionally left blank] 01121984;2-3-
PASSED AND APPROVED this 4 th day of October, 2018. Troy Hill, Mayor City of Leander, Texas ATTEST: Dara Crabtree, City Secretary City of Leander, Texas [CITY SEAL] 01121984;2 ORDINANCE EXECUTION PAGE
EXHIBIT A Notice of Extraordinary Partial Redemption 01121984;2
NOTICE OF EXTRAORDINARY PARTIAL REDEMPTION City of Leander, Texas Special Assessment Revenue Bonds, Series 2014 (Oak Creek Public Improvement District) NOTICE IS HEREBY GIVEN that the City of Leander, Texas has called for redemption a portion outstanding series of Special Assessment Revenue Bonds, Series 2014 (Oak Creek Public Improvement District) described as follows: Outstanding Principal Bonds Principal Amount Redemption CUSIP Rate Maturing Amount Refunded Date 521842AC8 5.875% 09/01/2044* $350,000 $50,000 11/15/2018 *Term Bond maturing September 1, 2018 Redemption will occur November 15, 2018, and interest thereon shall cease to accrue from and after said redemption date. The Bonds will be redeemed at par plus accrued interest. The above described Bonds should be surrendered on the redemption date for payment of the redemption price of the principal amount thereof plus accrued interest. In the case of any Bond to be redeemed in part only, upon presentation of such Bond for redemption, there will be issued in lieu of the unredeemed portion of the principal thereof a new registered Bond or Bonds in principal amount equal to such unredeemed portion. Called Bonds should be presented at the following addresses: Delivery Instructions BOKF, NA Corporate Trust Services 111 Fillmore Ave E St. Paul, MN 55107 1-866-429-7481 IMPORTANT TAX NOTICE Withholding of 28% of gross redemption proceeds of any payment made within the United States may be required by the Jobs and Growth Tax Relief Reconciliation Act of 2003 (the Act ), unless the Paying Agent has the correct taxpayer identification number (social security or employer identification number) or exemption certificate of the payee. Please furnish a properly completed Form W-9 or exemption certificate or equivalent when presenting your securities. *Note: The Issuer and Trustee shall not be responsible for the use of the CUSIP number(s) selected, nor is any representation made as to their correctness indicated in the notice or as printed on any Bond. They are included solely for the convenience of the holders. CITY OF LEANDER, TEXAS 01121984;2